The Tribune interviewed our David Morley CCIM CIPS. Please read the 24-Jan-22 article with his comments about the Government's drastic increase in the Real Property Tax Assessments for 2022 and why property owners are so upset with Government.
Commercial real estate is a catch-all term that includes a wide range of property and facilities. Commercial real estate is usually defined as real estate that can generate profit primarily through renting/leasing.
There are always unique market-specific commercial properties (like churches) that don't neatly fit into a specific category. However, the majority of commercial real estate easily fall into one of the following categories:
Our Broker, David Morley CCIM, was recently interviewed by The Tribune on the recent real property tax amnesty initiative. Read more about the lessons he has learned from the past, as well as his opinions on the 2021 change.
Negotiation is part of everyday life. You negotiate with your toddler as you try to get them to eat their breakfast in the morning, you negotiate with your spouse when dividing up the household chores, etc. Chances are you have already taken part in at least one negotiation for the day, and more are ahead of you. With negotiating being such an integral part of our lives, it is within reason that you should also approach your retail lease the same way and not just take what is offered to you as is in your eagerness to sign. You should always try to get the best deal.
When signing on a new commercial lease, a prospective tenant should always consider and review all aspects of the lease, as it is a "long-term" commitment (most leases we draft at Morley Realty are for an average of 3-5 years). Therefore, this is a commitment that should not be approached lightly, or it may end up being costly for you.
First and foremost, as an agent I always encourage prospective tenants to read and review their Lease carefully prior to signing and ask their attorney any questions to make sure the terms of the Lease are clear to them. Many times, tenants have found themselves in difficult situations because they either did not understand the terms and conditions of the lease or overlooked important details. Often important details a...
Would you ever let your dentist perform brain surgery? Well, this may be an extreme example, but certainly, one that gets the simple message across that you should hire the real estate agent that you believe is most qualified and experienced to undertake your specific real estate transaction. Yes, commercial real estate agents (CRE Agents) represent Buyers and Sellers of commercial real estate generally in the same way that residential agents represent Buyers and Sellers of homes. The primary difference between transactions of these two types of properties is that commercial properties (i.e. retail, office, multi-family, and industrial) are significantly more complex.
In addition to represent...
It seems that in all markets, regardless of size, commercial real estate is highly competitive and cut-throat. In smaller markets, the "bigger" deals are far and few between and so commercial real estate agents (CRE Agents) are always searching for a "leg-up" over competition or "jockeying in position" in hopes of landing the next big commercial real estate transaction. Real estate in a smaller market has distinct advantages for the local CRE Agents and companies to compete for most of the commercial real estate transactions over the competition for business in the larger markets.